The Government will put $ 6 billion in deposits in the EBV – RBC

The Government will put $ 6 billion in deposits in the EBV – RBC

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The Government will put $ 6.031 billion (223.3 billion rubles.) deposited with Vnesheconombank, should be published on the website of the government orders “On placement of the National Welfare Fund for deposited with Vnesheconombank ».

The draft order prepared by the Ministry of Finance in accordance with the requirements for financial assets that can be placed in the NWF, the document says.

Decree stipulates place in 2014 $ 6,031,000,000 (equivalent to 7% of the total NWF on August 19, 2014) deposits on the Web. “The funds are placed for up to 15 years at the level of interest rates, similar to the level of interest rates on deposits in United States dollars, which were placed NWF Vnesheconombank earlier,” – the document says.

In these deposits are NWF funds placed on deposit on the Web in United States dollars in 2009 and 2010, in the amount of $ 6.254 billion after the execution of Vnesheconombank obligations under their early return.

Terms placement of subordinated loans (approved by Resolution of the Government of 19 January 2008 year) can be addressed in the calculation of own funds (capital) as of and ensure the maintenance of capital adequacy ratio at an acceptable level, according to the disposal.

VEB was among the Russian banks have come under the sanctions of the USA and the European Union. Introduced at the end of July 2014 measures prohibit individuals and companies to buy or sell them and issued by other banks from the “black list” of new shares, bonds, or “similar financial instruments” with a maturity of more than 90 days.

In August Vnesheconombank asked the state about 50-60 billion rubles. “Vedomosti”. Interlocutor belongs to the financial and economic bloc of the government, said that the funds are needed for bank lending to new projects and export support. Financial institution plans to get the money in excess of the approved capital increase in the form of conversion of 220 million rubles. with deposits in Tier II capital. Source statements in the government said that VEB “can not do without the help of the State”, as the bank can not attract deposits from the public and companies.

August 25 Medvedev signed a decree authorizing the Ministry of Finance to spend more than 239 billion rubles. from FNB to buy newly issued preferred shares of VTB Bank and Agricultural Bank included in the sanctions lists the United States and the EU. To purchase shares of VTB will spend about 214.04 billion rubles. Rosselhozbanka – 25 billion rubles.

On the willingness to support domestic credit institutions, which will be distributed on the European Union and the United States announced sanctions, and the Central Bank said.

Marina Magay

September 10, 2014

RBC